ENG-1956 — Page 100

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HONG KONG ANNUAL REPORT

an almost unlimited range of plastic novelties are produced. Plastic coating of rattan by extrusion, for use by the local rattan industry, is a recent development.

Sugar Refining. The only large scale refinery in the Colony is that of the Taikoo Sugar Refining Company Ltd., which was established in 1884. High grade refined crystals, and granulated and soft sugars are produced from imported raw sugar. Specialities are the making of half cubes, icing, castor and soft brown sugar, and golden syrup in colourful retail packings for domestic use.

Felt Hats. The felt hat industry is mainly concerned with manufacture from imported hoods or imported discarded hats; one factory carries out the entire process of manufacturing from wool. Hong Kong is one of the largest exporters of cheap quality felt hats.

TRADE

The Colony's external trade in 1956 showed a significant expansion, the combined total value of imports and exports increasing by 24.4% compared with that for 1955. The rise in the value figure was reflected in cargo tonnage, which rose from 5,896,367 tons in 1955 to 6,653,088 tons in 1956.

Total exports, including re-exports, rose in value by 26.7% over the previous year. The country showing the largest increase in value was Indonesia, up by 159.3%. Marked increases in the value of exports were also recorded for Japan, Thailand and the United Kingdom. However, exports to China declined by 25.1% to HK$136 million (£8.5 million) the lowest since the war; and to South Korea by 34.9%.

The value of imports exceeded the total for 1955 by 22.8%. China remained the Colony's principal supplier, and Japan was next in importance. Imports from both of these two countries were the largest in value recorded since the war. Considerable increases were also registered in the value of imports from the United Kingdom, the United States and Pakistan. However, imports from India fell in value by 39.1%.